AMC Theaters Rolls Out First Phase Of Dogecoin Payments On Its Platform
AMC Theaters has rolled out the first phase of its plan to implement Dogecoin (DOGE) payments for its customers. This comes after massive demand from its customer base for the meme coin to be added as a mode of payment. AMC Theaters had earlier announced the addition of crypto payments for concessions and tickets. Following the announcement, CEO Adam Aron had set up a Twitter poll asking the community if Dogecoin should be added to the lineup. The response was overwhelmingly in the favor of adding Dogecoin and the CEO confirmed that the theater chain was going to begin working on ways to integrate Doge payments on its platform.
AMC Accepts Doge For Gift Cards
CEO Adam Aron took to Twitter to announced the newest development in its crypto adoption. Users will be able to purchase gift cards from the entertainment giant for up to $200 per day. AMC Theaters will accept payments for the gift cards both online and at its physical stores. Customers can pay for the gift cards using Dogecoin on its mobile app and website, or alternatively, they can walk into any AMC Theater location and purchase the gift cards in-store using Doge.
Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app, and in theatres. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8— Adam Aron (@CEOAdam) October 5, 2021
Dogecoin payments are facilitated through Bitpay, a payments processing service that allows merchants to receive payments in crypto. It is expected that the rollout of crypto payments by AMC Theaters will include Dogecoin, which would allow customers to pay for tickets and concessions online.
Dogecoin Community Welcomes AMC
The Dogecoin community has received the news positively. AMC boss Adam Aron received positive replies on his tweet announcing Doge payments for its gift cards. Matt Wallace, one of the most prominent figures in the Dogecoin community, took time out to celebrate the achievement.
DOGECOIN IS HERE TO STAY!!! Would love to talk to you directly Adam about a couple big plans for Dogecoin. Send me a DM.— Matt Wallace (@MattWallace888) October 6, 2021
Dogecoin has proven to be a viable payment option for merchants who process a large number of small transactions. Billionaire Mark Cuban pointed out that Dog is a preferred method of payment over bitcoin because it is not perceived by the market as a store of value.
Transaction fees are much lower for cryptocurrencies like bitcoin. Thus paying for concessions and theater tickets, which are small transactions, are more feasible with the meme as transactions fees sit at less than a dollar.
AMC Theaters plans to roll out full support for crypto payments by the end of the year. In addition to bitcoin, Aron announced that the theater chain would be adding Ethereum, Litecoin, and Bitcoin Cash as alternative payment methods. The addition of Dogecoin brings the total to five cryptocurrencies expected to be integrated into the AMC platform.Source